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AN AUSTRALIAN minerals explorer has emerged as a key part of Toyota’s strategy to position itself to meet demand for climate-friendly products. Shares in Orocobre yesterday leapt 45, or 32 per cent, to close at .85 after it unveiled a joint-venture deal with the Japanese group that effectively puts in place the funding to launch its flagship lithium project, Salar de Olaroz.Olaroz, in Argentina, would become the world’s fifth-biggest producer of lithium carbonate for batteries. These have been sought by consumer electronics makers but electric cars are expected to be lithium’s biggest growth driver.
Lithium batteries are seen as the most energy efficient because of lithium’s high energy-to-weight ratios.
Carmakers are eyeing an array of electric vehicles, from common and plug-in hybrids, which use a combustion engine with an optional electric power source, to fully electric vehicles.

Orocobre yesterday said it had agreed to a joint venture deal with Toyota Tsusho, which is 22 per cent-owned by Toyota Motor Corp and is a materials supplier to the world’s biggest carmaker as well as to electronics giants Panasonic and Sanyo.
Toyota Motor and Panasonic are partners in the development and production of lithium-ion battery packs.
Toyota Tsusho said its interest in the Olaroz project stemmed from the desire to increase its exposure to reliable and diversified lithium supplies as global demand for lithium batteries in the automotive sector grows.
Olaroz would produce 15,000 tonnes annually of lithium carbonate equivalent, or an estimated 10 per cent of global output in 2013.
Pre-development work for Olaroz is to be completed by September and the project could launch by late 2010.
The final decision is “a matter of process”, Orocobre managing director Richard Seville said.
 

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